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Problem 2-5

Problem 2-5. Group 1 Nairi Anida Southyda Luke Alex. Debit Credit. a. Cash (+A) 30,000.00 Contributed Capital (+SE) 30,000.00

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Problem 2-5

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  1. Problem 2-5 Group 1 Nairi Anida Southyda Luke Alex

  2. Debit Credit a. Cash (+A) 30,000.00 Contributed Capital (+SE) 30,000.00 b. Cash (+A) 50,000.00 Long Term Liabilities (+L) 50,000.00 c. Rent Expense (+E, -SE) 2,200.00 Prepaid Expense (+A) 2,200.00 Cash (-A) 4,400.00 d. Prepaid expense (+A) 2,400.00 Cash (-A) 2,400.00

  3. Debit Credit e. Furniture and Fixtures (+A) 25,000.00 Accounts Payable (+L) 25,000.00 f. Inventory (+A) 2,800.00 Cash (-A) 2,800.00 g. Advertising Expense (+E, -SE) 450.00 Cash (-A) 450.00 h. Cost of Sales (+E, -SE) 400.00 Inventory (-A) 400.00 h. Accounts Receivable (+A) 700.00 Sales Revenue (+R, +SE) 700.00

  4. Debit Credit h. Cash (+A) 700.00 Sales Revenue (+R, +SE) 700.00 i. Accounts Payable (-L) 25,000.00 Cash (-A) 25,000.00 j. Cash (+A) 250.00 Accounts Receivable (-A) 250.00

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